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The billionaire proprietor of the yogurt firm Chobani stated on Friday that he had acquired Anchor Brewing Firm, the San Francisco brewer that went out of enterprise final 12 months after 127 years.

Hamdi Ulukaya, who can also be Chobani’s chief govt, said in a video posted on social media that he seemed ahead to bringing Anchor Brewing “again to life.” The value Mr. Ulukaya paid to amass the brewing firm’s property from a liquidator was not disclosed.

Anchor, stated to be America’s oldest craft brewer, introduced it was shutting down in July 2023, citing the consequences of the pandemic, inflation and a extremely aggressive beer market.

Sam Singer, a spokesman for Anchor, stated on Friday that the corporate was “more than happy” in regards to the acquisition.

“He’s virtually an ideal match,” Mr. Singer stated of Mr. Ulukaya, a local of Turkey who helped convey Greek yogurt into the American mainstream.

“We consider that he can have that very same magic contact in taking a historic brewery and reinvigorating it for future San Franciscans,” he stated.

Based in 1896, Anchor survived earthquakes and fireplace, however was briefly shut down throughout Prohibition. Beloved by many People, it’s typically credited with spurring a craft beer resurgence within the Sixties.

However by 2016, its gross sales have been declining, and in 2017, the corporate was acquired for round $85 million by the Japanese beer big Sapporo. The pandemic was significantly disruptive, Mr. Singer stated final 12 months, noting that 70 p.c of Anchor’s beers had been bought in eating places and bars. Efforts to adapt, together with a rebranding marketing campaign that was criticized by longtime customers, and a shift to bottling and canning extra of its beers to promote in grocery shops, “couldn’t make up for the numerous lack of gross sales,” he stated.

The corporate’s unionized workers pitched shopping for the brewer and working it as a co-op to maintain it in enterprise.

Anchor employed 61 folks, all of whom have been laid off when it closed final 12 months, The San Francisco Chronicle reported. It was not instantly clear whether or not these employees can be rehired.

Mr. Ulukaya based Chobani in 2005, somewhat over a decade after he arrived in the USA with $3,000 in his pocket. He purchased a shuttered yogurt plant in New Berlin, N.Y., with a mortgage from the Small Enterprise Administration, and the primary Chobani cups hit retailer cabinets in 2007.

In 2015, Mr. Ulukaya introduced that he had taken a stake in La Colombe Espresso Roasters, the Philadelphia-based upscale espresso model and purveyor of canned chilly brew and draft lattes. Chobani acquired La Colombe final December for $900 million.

By 2023, Mr. Ulukaya stated that Chobani, which is privately held, had surpassed $2 billion in gross sales.

Chobani has drawn accolades — and ire — for hiring refugees. The corporate established the Tent Partnership for Refugees in 2015, a basis to assist different companies rent and combine refugees into their workforces.

The announcement of Mr. Ulukaya’s acquisition of Anchor Brewing was cheered by Mayor London Breed of San Francisco, whereas critics questioned whether or not the corporate would be capable of keep its function as a group staple below new possession.

Esther Mobley, a senior wine critic for The Chronicle, wrote that Anchor’s signature beer, Steam, was “an expression of town’s uniquely quirky local weather.”

“Lengthy earlier than temperature management was obtainable,” she wrote, “Steam’s fermentation was regulated solely by the cool bay breeze.”

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